Kinsale Capital Group Inc. Acquires 6,608 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

Kinsale Capital Group Inc. lifted its position in shares of Arch Capital Group Ltd. (NASDAQ:ACGL - Free Report) by 12.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,021 shares of the insurance provider's stock after purchasing an additional 6,608 shares during the quarter. Arch Capital Group comprises 1.9% of Kinsale Capital Group Inc.'s investment portfolio, making the stock its 17th biggest holding. Kinsale Capital Group Inc.'s holdings in Arch Capital Group were worth $6,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. purchased a new position in Arch Capital Group in the second quarter worth about $30,000. Baldwin Brothers LLC MA raised its stake in shares of Arch Capital Group by 50.7% in the second quarter. Baldwin Brothers LLC MA now owns 309 shares of the insurance provider's stock worth $31,000 after purchasing an additional 104 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Arch Capital Group during the second quarter valued at $35,000. LRI Investments LLC purchased a new stake in shares of Arch Capital Group during the first quarter valued at $38,000. Finally, Versant Capital Management Inc increased its holdings in Arch Capital Group by 40.3% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the insurance provider's stock worth $46,000 after buying an additional 131 shares in the last quarter. 89.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACGL has been the subject of a number of research analyst reports. Barclays assumed coverage on shares of Arch Capital Group in a research note on Wednesday, September 4th. They issued an "equal weight" rating and a $120.00 price target for the company. Jefferies Financial Group boosted their target price on shares of Arch Capital Group from $114.00 to $134.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Bank of America dropped their price target on Arch Capital Group from $143.00 to $136.00 and set a "buy" rating on the stock in a research note on Friday. Evercore ISI upped their price objective on Arch Capital Group from $104.00 to $107.00 and gave the company an "in-line" rating in a research report on Wednesday, October 9th. Finally, Roth Mkm raised their target price on Arch Capital Group from $110.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $118.94.

Arch Capital Group Price Performance

ACGL stock traded up $1.78 during mid-day trading on Friday, hitting $101.83. The company had a trading volume of 2,727,138 shares, compared to its average volume of 1,676,880. The company has a market capitalization of $38.31 billion, a price-to-earnings ratio of 6.83, a P/E/G ratio of 1.46 and a beta of 0.61. The company has a 50-day moving average price of $108.03 and a 200 day moving average price of $103.24. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.17. Arch Capital Group Ltd. has a 12-month low of $72.85 and a 12-month high of $116.47.

Arch Capital Group (NASDAQ:ACGL - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The insurance provider reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.05. Arch Capital Group had a return on equity of 18.94% and a net margin of 33.86%. The company had revenue of $4.72 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the company earned $2.31 earnings per share. On average, research analysts anticipate that Arch Capital Group Ltd. will post 9.02 earnings per share for the current year.

Arch Capital Group Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Wednesday, December 4th. Investors of record on Monday, November 18th will be issued a $5.00 dividend. The ex-dividend date of this dividend is Monday, November 18th.

Arch Capital Group Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.